Bank of New York Mellon Working to Tap Bitcoin Potential
The New York-based multinational banking and financial services firm Bank of New York Mellon Corporation is experimenting with the potentially disruptive digital currency Bitcoin. The banking giant's dive into the Bitcoin technology comes closely after the Swiss banking major UBS announced that it will open a research lab in London to study the blockchain technology. BNY Mellon's Chief Information Officer Suresh Kumar told CIO Journal that, "We want to try it out to see the applicability of [Bitcoin] in our businesses." It is only apt that the leading banks enter this domain since Bitcoin,....
Related News
America’s oldest bank, the Bank of New York Mellon Corporation, commonly known as BNY Mellon, has announced the financial institution can now custody cryptocurrencies. A report published by the Wall Street Journal on Tuesday, says BNY Mellon was approved by the New York State Department of Financial Services (DFS), and the bank said it was the first of eight financial heavyweights to start crypto asset custody services.
BNY Mellon to Start Custody Services for Bitcoin and Ethereum on Behalf of Its Customers
Last fall, New York’s financial regulator DFS gave BNY....
The Bank of New York Mellon, BNY Mellon, has set up a digital asset unit. The oldest bank in the U.S. plans to “hold, transfer, and issue” bitcoin and other cryptocurrencies on behalf of its clients. The bank aims to eventually treat cryptocurrencies like any other assets. BNY Mellon Gets Into Crypto The oldest bank in the U.S., BNY Mellon, announced Thursday “the formation of a new enterprise digital assets unit that will accelerate the development of solutions and capabilities to help clients address growing and evolving needs related to the growth of digital assets,....
In February, one of the oldest financial institutions in the United States, Bank of New York Mellon, announced the launch of a custody service for Bitcoin and other cryptocurrencies. Claiming that BTC has become a widely accepted asset, the institution opted to get ahead in innovation. Now, BNY Mellon has published a valuation on Bitcoin […]
Developers for Bank of New York Mellon Corp have been experimenting with bitcoin's open-source code for use as part of the bank's newly created corporate recognition program, according to The Wall Street Journal. The so-called "BK Coins" will be awarded to staff for contributions to the bank's software development, and can be redeemed for gift cards and other rewards. The initiative was announced by BNY Mellon CIO Suresh Kumar during a meeting last week at the bank's innovation center. Kumar noted at the time that the bitcoin testing fits within BNY Mellon's broader goals of exploring....
Bank of New York Mellon, the world’s largest custodian bank, has partnered with blockchain software firm Chainalysis to track its users’ crypto transactions. The Bank of New York (BNY) Mellon has announced a partnership with blockchain-data platform Chainalysis to help track and analyze cryptocurrency products. BNY Mellon is the world’s largest custodian bank, currently overseeing $46.7 trillion in assets. Chainalysis is a blockchain-data analysis platform that offers services to traditional financial institutions, allowing large firms to manage the legal risks that come with....